The demand for steem power needs to exceed the demand for new accounts for the price of steem to go up, this will happen eventually but my advice is to wait until steem drops to around $1 then start buying up steem power like crazy! :)
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Since the start of the April, the rise in steem price has outstripped the growth in accounts. It will be interesting to see what direction steem price will go in the next few months. I wonder will e recent Hard fork change push up the price, it's too early to tell now. Cheers for the colment
The learning curve is about a month for most, well it was for me, so im guessing thats how long it will take for the price to start rising? since the demand for accounts has exploaded since the
i hope im just a slow learner though lol :)
Since the...flying fork? :p
you think it will fall this much?
I hope not, but it is possible? if it does, its buy time! :)
got me scared there for a second.
I was considering buying more when it was under 2$ but I will wait a bit and see where it goes.
If its going up fine I have more already then I orignally planned to buy
If it goes down more I am not sure if I can resist
i think its more likely it will go down further before it starts to go up because most people hearing the hype will start off trying to earn steem, it will take them a while to realise that they need to invest in steem power to make any significant gains by upvoting there own posts? ofcorse i hope im wrong and they catch on quickly and start buying steem? either way its good for people holding steem power, if it goes down, buy more, if it goes up you will be holding more dollar value! win win really :)
I think it's a bit of a gamble, but i bought steem because i wanted to support the steemit platform and i would also far prefer to hold crypto when fiat implodes.
Should you convert your steem dollar's into steem power ??
there are 3 reasons you should convert your steem dollars into steem power 1st security, if some one was to hack your account they could instantly transfer your steem dollars to there own wallet, 2nd voting power, the more steem power you have the more $ you will get for upvoting your own posts and 3rd interest, you will gain a small amount of steem power back as interest just for holding steem power, i hope this was helpful :)
Thank you @daniel82 this was really helpfull :D